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    anamonica_11's Avatar
    anamonica_11 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Aug 9, 2009, 09:41 AM
    Statement of changes in partner's capital
    An adjusted trial balance at the year-end was given in the problem including the
    Cash
    Accounts receivable
    Allowance for bad debts
    Accounts payable
    Loans to Al
    Loans from Col
    Capital of the partners (credit)
    Partner's drawings (debit)
    Income summary (credit)

    How can I prepare the statement of changes in partner's capital when they have an agreement like:
    Monthly salary of 5,000 to Al
    10% interest on their ending capital balance
    Balance at 20%, 30% and 50% to Al, Bal and Col, respectively

    When Al and Bal made an additional of 50,000 and 25,000 respectively during the year.

    Please help me on how to solve the statement of changes in partner's capital, I've been doing this almost the whole day but I doubt my answers. Thanks so much
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #2

    Aug 10, 2009, 03:06 AM

    Post your answers and let someone look at them and guide you from there.
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